Bitcoin Reaches New Peak: Is $120K Next?

by Giorgi Kostiuk

2 years ago

Today, Bitcoin (BTC) set a new all-time high of $109,114.88, briefly reclaiming a market capitalization of $2.15 trillion. However, its price dropped to $108,241.38 shortly thereafter.

Bitcoin's Record Price

Bitcoin saw a 3.82% rise over the last 24 hours, leading to a new peak. However, following the peak, its value decreased by 1.2%.

Analytical View on Future Movements

Crypto analyst EGRAG CRYPTO emphasized the importance of BTC closing a four-hour candle above $109K to sustain momentum toward $120,000.

BTC did not close as NEW ATH: Now let's try the second Candle 3 hours 55 mins to go.EGRAG CRYPTO

Technical Analysis and Prospects

Previously, EGRAG suggested that Bitcoin needs to close a weekly candle above $103,000 to set the path for a test of $127,000. Additionally, the analyst warned that a retest of $77,000–$80,000 could occur before further upside.

While Bitcoin continues to surprise with its rapid ascent, analysts highlight the importance of key price levels for predicting further market changes.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Tier I

Requires 25% Tier Progress to Claim

Meme Cache

Tier I

Requires 50% Tier Progress to Claim

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Tier I

Sector: #18291

25%

50%

75%

100%

Tier II

Survivors rescued:

0 / 600

Survivors

0/0

Transmit Signal

Broadcast this sector's coordinates to other rescuers.

Other news

Solana Validators Prepare for Governance Vote on Economic Proposals

Solana validators are preparing for a governance vote on a package aimed at reducing SOL issuance pressure through fee burning and inflation reduction, with the vote scheduled for August 23.

Tomas Novak39 minutes ago

Federal Judge Rules Justin Sun's Case Against World Liberty Financial to Remain in Open Court

A federal judge in San Francisco ruled that Justin Sun's legal battle with World Liberty Financial over $45 million in frozen tokens will remain in open court, rejecting the company's bid for arbitration.

Katerina Papadopoulou9 hours ago

New Report Published Utilizing Primary Source Documentation.

The report is based on information released in disclosures at primary source documentation, ensuring that the information provided is accurate and reliable.